The government of France has announced plans to release a $4.3 billion cash injection for its startups, a move that seeks to help them survive the COVID-19 pandemic.
According to France Digital Minister, Cedric O, the support package includes bridge funding, innovation-spending related tax breaks, and treasury loans. He reiterated that the move is critical, seeing that the country still has a relatively small startup scene, yet the available ones account for roughly 17 percent of jobs in the country.
Last year, President Emmanuel Macron presented a $5.5 billion plan to get investors to step up funding for French tech startups. France aims to have 25 unicorns, companies valued at more than $1 billion, by 2025.